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SunSirs: This Week, the Prices of Wire Rod and Rebar Slightly Decreased (December 11-15)

December 18 2023 15:21:17     SunSirs (John)

Price trend

According to the price monitoring of SunSirs, the prices of rebar and wire rods in the Jiangsu, Zhejiang and Shanghai region had slightly decreased this week. As of the 15th, the average price of HRB400 rebar in the Jiangsu, Zhejiang and Shanghai region was about 3,977.33 RMB/ton, an increase of 1.62% compared to the beginning of the week; The average price of HPB300 high line in the Jiangsu, Zhejiang and Shanghai region was 4,135.2 RMB/ton, a decrease of 1.76% from the beginning of the week.

Analysis review

Market aspect: As the weekend approached, the national engineering demand was 43,343 tons, an increase of 73% compared to the previous trading day. From January to October, the national real estate development investment was 9,592.2 billion yuan, a year-on-year decrease of 9.3%; Among them, residential investment was 7,279.9 billion yuan, a decrease of 8.8%. From January to October, the construction area of real estate development enterprises was 8,228.95 million square meters, a year-on-year decrease of 7.3%. Among them, the residential construction area was 57.93.61 million square meters, a decrease of 7.7%. The newly constructed area of housing was 791.77 million square meters, a decrease of 23.2%. Among them, the newly constructed residential area was 57.659 million square meters, a decrease of 23.6%. The completed area of houses was 55.151 million square meters, an increase of 19.0%. Among them, the completed residential area was 40.079 million square meters, an increase of 19.3%.

According to data from the General Administration of Customs, in November 2023, China exported 8.005 million tons of steel, an increase of 66,000 tons from the previous month and a month on month increase of 0.8%; From January to November, the cumulative export of steel reached 82.658 million tons, a year-on-year increase of 35.6%.

Inventory and Production: This week, the weekly production of rebar decreased, the weekly production of wire rods increased, and the total inventory of wire screws increased.

Market outlook

Some steel companies had lowered prices, but terminal demand had not increased. The quotation of steel billets had slightly declined, and the overall market transactions were flat. After the decline, many steel markets in various regions had remained stable and cautious. Some coke companies had started the fourth round of price hikes, with widespread rain, snow, and cold wave weather approaching. It is expected that the price of rebar and wire rod in the market will be weak and consolidation will be the main trend.

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